Talking DEI Under Trump 2.0: How Anti-Woke Investors Are Hijacking Pro-ESG Proposals

The article covers AQTION’s second edition of the “Stewardship in AQTION” report, which analyses the voting and engagement policies of 65 of the world’s largest institutional investors, collectively managing over $91 trillion in assets. 

The study reveals that, over the past two years, 47 of the world’s top 65 investors have included board diversity expectations in their voting policies. Additionally, 33 investors have adopted policies on gender and racial diversity within their portfolio companies’ workforces. However, the political landscape is changing. AQTION notes that since 2025, investors have been pulling back on DEI policies, largely driven by political backlash, particularly in the U.S. Several major investors, including Goldman Sachs Asset Management, The Vanguard Group, Capital Group, and others, have removed references to DEI from their 2025 voting guidelines.

As more investors release their updated 2025 policies, AQTION anticipates additional removals, reflecting the growing influence of ‘anti-woke movements’ on investor decision-making.

The full article can be accessed using this link.